Novig, the peer-to-peer prediction market, declared a funding spherical that closed at $18 million.
The principle contributors to this spherical of funding included Forerunner, Y Combinator, NFX, Perceptive Ventures, and Gaingels.
Novig proclaims $18 million funding spherical
The prediction market in America is heating up with a listing of suitors that enable bettors to stake on markets similar to election outcomes, climate patterns, and a bunch of novelty bets. We reported on the success that Kalshi and Polymarket have had throughout this 12 months and their authorized battles to function throughout America.
Novig is a sportsbook change that’s permitted to function in forty US states and is gaining traction amongst prediction gamblers. The format is much like British and EU sportsbook exchanges similar to Betfair Alternate that provide occasions that pit gamers’ predictions towards one another.
The platform, based by Jacob Fortinsky and Kelechi Ukah, posted on social media in regards to the landmark funding spherical.
@Novig simply raised an $18M Sequence A spherical led by @forerunner.
Right here’s how we turned the fastest-growing sports activities prediction market in America
pic.twitter.com/NsHsRwB8Ec
— Jacob Fortinsky (@j__fort) August 11, 2025
How does Novig work?
Novig makes use of a format that includes two branded on-line currencies, Novig Money and Novig Cash, used to partake in “freemium” video games, and can be bought for sweepstakes and the buying and selling ingredient of the location. In accordance with the Novig web site, the 2 currencies are color-coded.
Novig Money, the blue foreign money, is “redeemable for actual money prizes (USD) in case your trades win; topic to playthrough necessities.” Novig Cash, the yellow foreign money, is “used solely for observe buying and selling and can’t be redeemed for actual foreign money,” in accordance with the articles posted on Novig.
The longer term appears optimistic for the sports activities prediction platform
Since its public launch in September 2024, it has achieved a reported fifty occasions its unique month-to-month buying and selling quantity, which has quickly elevated, and the web foreign money is now at 2 billion Novig money.
One of many buyers, Fawzi Itani, Principal at Forerunner, stated, “The Novig staff brings essentially the most refined and nuanced perspective to sports activities prediction markets. They not solely deeply perceive their goal buyer, however are constructing a system that’s extra truthful, community-oriented, rewarding, and nicely, enjoyable.”
Novig intends to develop with the brand new spherical of funding from Itani and the opposite buyers. The corporate has plans, in accordance with the discharge, so as to add further sports activities to the buying and selling ingredient of the platform.
“With the brand new capital, Novig plans to develop protection to further sports activities and deepen its presence in current markets. The corporate will even launch new options, together with leaderboards, group contests, and head-to-head buying and selling,” stated the Novig launch.
It’s also seeking to help debit and bank card funds, an internet app, and rent extra our bodies throughout its engineering, product, and development groups.
Along with being the co-founder, Fortinsky operates because the prediction supplier’s CEO. He spoke in regards to the platform’s success, saying, “We consider customers deserve a system that rewards ability, displays true provide and demand, and provides each fan a good shot. We’ve rapidly develop into the #1 sports activities prediction market within the US, and our natural development speaks to the power of our product and the eagerness of our group.”
Featured picture credit score: Novig official.
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